The ISEQ notched up further gains yesterday in the shadow of London, where the Footsie index reached a record high for the second day running. But unlike the Footsie where banking stocks are boosting the indexes, financial stocks on the Dublin bourse suffered a modest setback following profit-taking on Tuesday's gains. AIB eased back 10 cents to €16.20 (£12.76) while Bank of Ireland gave up 5 cents to close at €19.35 (£15.24). Irish Permanent was unchanged at €14.00 (£11.03) but its merger partner, Irish Life, gave up 5 cents, closing at €9.05 (£7.13). The possibility of a European Central Bank decision to cut interest rates could boost share price movement in today's trading.
CRH, the building materials group, continued its run, bolstered by the news of Mr Liam O'Mahony taking the helm. Its price ended at €16.45 (£12.96), up 20 cents on the day. Smurfit shed 6 cents, closing at €1.78 (£1.40).
Elan also gained a further 1 per cent after Tuesday's 5 per cent gain. It closed at €70.93 (£55.86), up €2.50. On the Nasdaq, it closed at $75.81, gaining 1.59 per cent on the day. Among the food stocks, Fyffes, threw off the news that the World Trade Organisation had ruled in favour of the US against the EU Commission on banana import quotas. Fyffes had three deals, closing at £1.48 sterling (€2.19), down 1 cent.
The stock exchange was informed yesterday that AIB has stated it has a 9.97 per cent interest in Heiton Holdings, the building materials group. Its price was unchanged on one deal, at €2.75 (£2.17).
